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2014-05-01 18:54:00

EXXON: PROFIT HIGHER

EXXON: PROFIT HIGHER

Exxon Mobil Corp, the world's largest publicly traded oil company, posted a quarterly profit on Thursday that hands down beat Wall Street's expectations as a bitterly cold winter throughout much of the United States boosted natural gas prices.

The past winter, which affected much of the U.S. in January and February, pushed Exxon Mobil's average U.S. natural gas sale price up 49 percent, helping offset a dip in global production.

Prices for natural gas rose globally as well, even as the price the company receives for its crude oil slipped both in the U.S. and internationally.

Exxon Mobil reported first-quarter net income of $9.10 billion, or $2.10 per share, compared with $9.50 billion, or $2.12 per share, in the year-ago quarter.

The results surpassed analysts' expectation for profit of $1.88 per share, according to Thomson Reuters I/B/E/S.

Total production fell about 6 percent to 4.2 million barrels of oil equivalent per day (boed).

Exxon reported weakening margins in both its chemicals and refining units. Part of the dip was due to a cut in production at its 560,500 barrel per day Baytown, Texas refinery after an oil barge spill caused the closure of the Houston Ship Channel in March.

The company made no mention Thursday of Russia's involvement in Ukraine.

Exxon Mobil is building a liquefied natural gas (LNG) plant with Rosneft, Russia's state-controlled oil giant, on Russia's eastern coast. The plant, which Exxon executives have repeatedly said will not be deterred by the Ukrainian political situation, is expected to be online by 2019.

On Wednesday the company raised its quarterly dividend by 10 percent.

Shares of Exxon rose 0.6 percent to $102.98 in premarket trading on Thursday.

reuters.com

Tags: EXXON, GAS

Chronicle:

EXXON: PROFIT HIGHER
2017, December, 15, 12:50:00

LUKOIL'S PLAN: $50

LUKOIL - The plan is based on the conservative $50 per barrel oil price scenario. Sustainable hydrocarbon production growth is planned in the Upstream business segment along with the growth in the share of high-margin projects in the overall production. In the Downstream business segment, the focus is on the improvement of operating efficiency and selective investment projects targeted at the enhancement of product slate.

EXXON: PROFIT HIGHER
2017, December, 15, 12:45:00

BP INVESTS TO SOLAR

BP - BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. The great majority of this investment will fund Lightsource’s worldwide growth pipeline. The company will be renamed Lightsource BP and BP will have two seats on the board of directors.

EXXON: PROFIT HIGHER
2017, December, 13, 12:40:00

OIL PRICE: ABOVE $64 YET

REUTERS - Brent crude was up 69 cents, or 1.1 percent, at $64.03 a barrel by 0743 GMT. It had settled down $1.35, or 2.1 percent, on Tuesday on a wave of profit-taking after news of a key North Sea pipeline shutdown helped send the global benchmark above $65 for the first time since mid-2015. U.S. West Texas Intermediate crude was up 45 cents, or 0.8 percent, at $57.59 a barrel.

EXXON: PROFIT HIGHER
2017, December, 13, 12:35:00

RUSSIAN-TURKISH NUCLEAR

ROSATOM - On December 10, 2017, the construction start ceremony took place at the Akkuyu NPP site under a limited construction licence issued by the Turkish Atomic Energy Agency (TAEK). Director General of the ROSATOM Alexey Likhachev, and First Deputy Minister of Energy and Mineral Resources of the Turkish Republic, Fatih Donmez, took part in the ceremony.

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